By Keith Griffith | Realtor.com
National growth in home values continues to decelerate, with prices now falling in more than half of the 20 major metro areas tracked by a key index.
The value of single-family homes in the U.S. as measured by repeat transactions rose 1.3% in September compared to a year earlier, according to data from the S&P Cotality Case-Shiller Index released on Tuesday.
It marked the weakest annual gain in home prices since mid-2023 and was down from the 1.4% annual gain recorded in August.
Among the 20 major metros tracked by Case-Shiller, home values fell on an annual basis in 11, all located in the South and West. Tampa, FL, and Phoenix continued to see the largest year-over-year declines in home prices, with prices falling 4.14% and 2.02%, respectively.
